211 and counting. The bleeding slowed down this week. Total SD County listings for attached and detached properties are down to 18,070.
In the submarket I track very closely inventory is falling and pending are rising. The inventory and pending numbers are very similar this year vs exactly 1 year ago. The market is pretty much where it was one year ago so there really hasnt been a major meltdown yet. The ratio of actives to pendings has gone from a high of 6 around Labor Day to 3.5 which is where it stood last Nov 28th. The price decline has happened in a pretty orderly fashion in my area with the fluff that was piled on in early 2004 rapidly evaporating. I expect the pace of declines to slow from here on out but don’t pretend to have all the answers. That and $4 will get you a Cafe Mocha @ Starbucks.
